In a small bowl soak saffron threads and in a little bit of hot water (this really opens up the spice and releases its flavor). Set aside.
Heat olive oil in a large skillet over medium-high heat.
Add chicken skin side down, sprinkle with salt and black pepper, and cook undisturbed for about 8 to 10 minutes, or until the chicken pieces easily release from the pan (make sure that the chicken sizzles but doesn’t burn by adjusting the heat accordingly.)
Flip the chicken pieces and cook on the other side until browned, about 6 to 8 minutes.
Remove the chicken from the pan and set aside.
Spoon most of the fat from the skillet, leaving about 2 tablespoons for added flavor.
Reduce the heat to medium, add onions, and sauté for about 5 to 6 minutes, until translucent.
Add garlic and sauté for 1 minute, until fragrant.
Add rice and cook stirring until the rice is glossy and coated with oil.
Add turmeric and saffron and give a good stir.
Return the chicken to the pan, add stock, and stir gently to combine.
Bring to a boil, reduce to a simmer, cover, and cook undisturbed for 20 minutes (resist the urge to uncover the skillet and stir, be patient!)
Uncover and check. The goal is to have the liquid absorbed, the rice is tender, and the chicken is cooked through.
If the rice is dry but nothing is ready, add another ¼ cup of water and cook for another 5 to 10 minutes.
When ready, take a taste and adjust seasoning as needed.
Remove from the heat, add peas, cover, and let sit for 10 to 15 minutes.
Fish the chicken out of the pan and fluff the rice with a fork.
Return chicken to the skillet, arrange lime wedges around, and sprinkle with chopped fresh parsley.